Highest Fixed Deposit Interest Rates (20 Feb 2019)

The objective of bank fixed deposit is to earn better returns on idle money than savings account, FD interest rates varies from bank to bank depending upon tenure. To create an fixed deposit, you require lump sum investment for a fixed tenure and on this invested amount, banks offer you to get a fixed interest periodically till the end of the term. Now-a-days many banks offer competitive & attractive interest rates on FD for Senior Citizens and NRE/ NRO customers. You can also calculate FD interest rate, this will help you to take a proper investment decision.

The advantage of FD is that bank offers loan facility upto 90% of the amount on the FD and the interest rate to such loan is around 0.50% to 2.00% higher than the fixed deposit rate. Another advantage of FD is periodic income (interest) can be transferred periodically to savings account. To know more advantage of fixed deposit check diffrence between FD Vs RD.

The disadvantage of FD is tax deduction at source (TDS) at the rate of 10% on interest earned, if it exceeds Rs. 10,000 in one financial year.

Fixed Deposit Highlights

  • Maximum Investment Amount: No such limit
  • Interest Rates Variable: from 7 to 9% based on tenure
  • Interest Rates Compounding: Quarterly
  • Interest earned is taxable: Yes
  • Liquidity: Yes
  • Tenure: 7 days to 10 years
  • Income Tax Rebate u/s 80C: Yes upto Rs 1,50,000/- p.a., but on FD with a lock in period of 5 or more years
  • Maturity Value: Taxable
  • Premature Withdrawals: Entire amount, anytime but after charging a certain penalty
  • Loans/Overdraft: Overdraft facility upto 90% of the amount in the FD
  • Tax Deduction at Source: Yes at the rate of 10% on interest earned if if it exceeds Rs. 10,000 in one financial year
  • Risk: Risky as compared to PPF
  • Periodic Income: Yes

Compare Fixed Deposit Interest Rates 20 Feb 2019

The highest interest rate is offered by the ESAF Small Finance Bank (for 12 months) at 8.75% per annum and Suryoday Small Finance Bank (for 12 months) at 8.50% per annum followed by Utkarsh Small Finance Bank (for 12 months) 8.25%.

Bank TenureFD Interest Rate (p.a.)Find Interest RatesCalculate
Esaf Small Finance Bank 12 Months8.75%
Equitas Small Finance Bank 12 Months8.50%
Utkarsh Small Finance Bank12 Months8.50%
North East Small Finance Bank 12 Months8.50%
Suryoday Small Finance Bank12 Months8.50%
Ujjivan Small Finance Bank 12 Months8.30%
Indusind Bank12 Months8.00%
Rbl Bank 12 Months8.00%
Fincare Small Finance Bank Ltd12 Months8.00%
The Nainital Bank 12 Months7.90%
Capital Small Finance Bank 12 Months7.65%
Laxmi Vilas Bank12 Months7.60%
Dbs Bank Ltd12 Months7.50%
Karnataka Bank 12 Months7.50%
Tamilnad Mercantile Bank 12 Months7.40%
Standard Chartered Bank12 Months7.40%
Bandhan Bank 12 Months7.35%
City Union Bank 12 Months7.35%
Kotak Mahindra Bank 12 Months7.30%
Jammu And Kashmir Bank 12 Months7.30%
Federal Bank12 Months7.30%
Hdfc Bank12 Months7.30%
Axis Bank12 Months7.30%
Yes Bank12 Months7.25%
Idbi Bank12 Months7.25%
Karur Vysya Bank12 Months7.25%
Punjab And Sind Bank12 Months7.00%
Dhanalakshmi Bank12 Months7.00%
Catholic Syrian Bank 12 Months7.00%
Idfc Bank 12 Months7.00%
Disclaimer: The Fixed Deposit Interest Rates keep on changing. You are advised to check the interest rates with banks before making your FD.      Source: Bank Websites

Upcoming Bank Holidays

2019 February 23 is a bank holiday in Andaman And Nicobar Island due to 4th Saturday Bank Holiday.
2019 March 04 is a bank holiday in Andaman And Nicobar Island due to Maha Shivratri.
2019 March 04 is a bank holiday in Chandigarh due to Maha Shivaratri.
2019 March 09 is a bank holiday in Andaman And Nicobar Island due to 2nd Saturday Bank Holiday.
2019 March 20 is a bank holiday in Assam due to Dol Jatra.
2019 March 20 is a bank holiday in Jharkhand due to Holika Dahan.

Highest RD Interest Rates

Bank Name1 Year5 Years
Esaf Small Finance Bank 8.75%7.00%
North East Small Finance Bank 8.50%6.75%
Suryoday Small Finance Bank8.50%8.25%
Equitas Small Finance Bank 8.50%7.00%
Utkarsh Small Finance Bank8.50%8.00%
Ujjivan Small Finance Bank 8.30%7.00%
Rbl Bank 8.00%7.60%
Indusind Bank8.00%7.50%
Fincare Small Finance Bank Ltd8.00%8.00%
Indusind Bank7.90%7.50%

Senior Citizen FD Interest Rates

Bank NameTenureInterest(p.a.)
Esaf Small Finance Bank 1 Year9.25%
North East Small Finance Bank 1 Year9.00%
Suryoday Small Finance Bank1 Year9.00%
Utkarsh Small Finance Bank1 Year9.00%
Equitas Small Finance Bank 1 Year9.25%
Ujjivan Small Finance Bank 1 Year8.80%
Fincare Small Finance Bank Ltd1 Year8.50%
Rbl Bank 1 Year8.50%
Indusind Bank1 Year8.50%
The Nainital Bank 1 Year8.40%

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